SPCZ

RIVERNORTH ENHANCED PRE-MERGER SPAC ETF

Why Invest in SPCZ

TRUEALPHA
RiverNorth Enhanced Pre-Merger SPAC ETF (SPCZ) is an actively managed fund that invests in pre-merger securities of special purpose acquisition companies (SPACs). Also known as 'blank check companies', their business plan is to raise capital in an Initial Public Offering (IPO) and, within a specific period of time, engage in a merger or acquisition with one or more unidentified companies.

Why Invest in SPCZ

TRUEALPHA
RiverNorth Enhanced Pre-Merger SPAC ETF (SPCZ) is an actively managed fund that invests in pre-merger securities of special purpose acquisition companies (SPACs). Also known as 'blank check companies', their business plan is to raise capital in an Initial Public Offering (IPO) and, within a specific period of time, engage in a merger or acquisition with one or more unidentified companies.
FUND SUMMARY

About the SPCZ ETF

Fund Details

Data as of 12/31/2022

Inception Date

July 11, 2022

CUSIP

53656G100

Primary Exchange

CBOE BZX

Ticker

SPCZ

Fund Listing

July 12, 2022

IOPV Symbol

N/A

NAV Symbol

SPCZ.NV

Expense Ratio

0.89%

30 Day SEC Yield

Fund Data & Pricing

Data as of 01/30/2023
Net Assets as of 01/30/2023
$5.77M

NAV

$25.64

Shares Outstanding

225,000

Premium/Discount Percentage

0.07%

Closing Price

$25.66

30 Day Median Bid/Ask Spread

0.35%

IOPV, or Indicative Optimized Portfolio Value, is a calculation disseminated by the stock exchange that approximates the Fund’s NAV every fifteen seconds throughout the trading day.

FUND SUMMARY

About the SPCZ ETF

Fund Details

Data as of 12/31/2022

Inception Date

July 11, 2022

Fund Listing

July 12, 2022

Primary Exchange

CBOE BZX

Ticker

SPCZ

CUSIP

53656G100

IOPV Symbol

N/A

NAV Symbol

SPCZ.NV

Expense Ratio

0.89%

30 Day SEC Yield

Fund Materials

Fund Materials

Fund Data & Pricing

Data as of 01/30/2023
Net Assets as of 01/30/2023
$5.77M

NAV

$25.64

Shares Outstanding

225,000

Premium/Discount Percentage

0.07%

Closing Price

$25.66

30 Day Median Bid/Ask Spread

0.35%

IOPV, or Indicative Optimized Portfolio Value, is a calculation disseminated by the stock exchange that approximates the Fund’s NAV every fifteen seconds throughout the trading day.

Historical NAV Change

Data as of 01/30/2023

Use the slider below to adjust the time period shown in the graph below.

SUB-ADVISOR

RiverNorth Capital Management

RiverNorth is an investment management firm founded in 2000 that specializes in opportunistic strategies in niche markets where the potential to exploit inefficiencies is greatest. RiverNorth is an institutional investment manager to registered funds, private funds and separately managed accounts.

Investment Philosophy

While we believe the broad markets are fairly efficient, we also believe there are certain markets and types of securities that are inefficient. We typically favor under-followed, specialty asset classes and markets where the potential to exploit inefficiencies is greatest. We focus on risk control rather than speculative market timing. We believe it is more prudent and more consistent to protect rather than predict. We avoid macro-forecasting as it is difficult and does not consistently align with capital markets.

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Fund Materials

Fund Data & Pricing

Data as of 01/30/2023
Net Assets as of 01/30/2023
$5.77M

NAV

$25.64

Shares Outstanding

225,000

Premium/Discount Percentage

0.07%

Closing Price

$25.66

30 Day Median Bid/Ask Spread

0.35%

IOPV, or Indicative Optimized Portfolio Value, is a calculation disseminated by the stock exchange that approximates the Fund’s NAV every fifteen seconds throughout the trading day.

Outcome Period Values

ETF Starting NAV/Period Return

SPX Index Reference Price

Downside Buffer

Expected Upside Participation

Days Remaining

ETF Starting NAV/Period Return

SPX Index Reference Price

Downside Buffer

Expected Upside Participation

Days Remaining

/0.0%

ETF Starting NAV/Period Return SPX Index Reference Price Downside Buffer Expected Upside Participation Days Remaining
29.24 4796 10 70-72% 362

Outcome Period Values

ETF Starting NAV/Period Return

/0.0%

SP Index Reference Price

Downside Buffer

Expected Upside Participation

Days Remaining

Current Outcome Period Values

Data as of 01/30/2023

ETF Current NAV/Period Return

25.64/

SPX Period Return

Remaining Buffer

Downside Before Buffer

Remaining Outcome Period

-19279

Current Outcome Period Values

Data as of 01/30/2023
ETF Current NAV/Period Return SPX Period Return Remaining Buffer Downside Before Buffer Remaining Outcome Period
29.24 4796 10 70-72% 362

ETF Current NAV/Period Return

SPX Period Return

Remaining Buffer

Downside Before Buffer

Remaining Outcome Period

$25.64
-19279 days

Performance

Data as of 12/31/2022

3 Month

6 Month

1 Year

5 Year

Since Inception

Market Price

1.94
2.18

Fund NAV

1.89
2.02
ICE BofA US Treasuries 0-3 years
0.78
-0.11

3 Month

6 Month

1 Year

5 Year

Since Inception

Market Price

1.94
2.18

Fund NAV

1.89
2.02
ICE BofA US Treasuries 0-3 years
0.78
-0.11

Performance

Data as of 12/31/2022
3 Month 6 Month 1 year 5 Year Since Inception
Market Price 8.18 8.31 21.66 21.66
Fund NAV 8.27 8.12 21.66 21.65
S&P 500 10.65 10.91 26.89 26.89

3 Month

6 Month

1 Year

5 Year

Since Inception

3 Month

6 Month

1 Year

5 Year

Since Inception

Market Price

1.94
2.18

Fund NAV

1.89
2.02
ICE BofA US Treasuries 0-3 years
0.78
-0.11
Expense ratio: 0.89%

As fund is less than a year old, Since Inception performance shown is cumulative. Short-term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns. Because of ongoing market volatility, fund performance may be subject to substantial short-term changes.

Performance data quoted on this website represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed or sold in the secondary market, may be worth more or less than the original cost. Investors will incur usual and customary brokerage commissions when buying or selling shares of the exchange-traded funds in the secondary market, and that, if reflected, the brokerage commissions would reduce the performance returns. Current performance may be lower or higher than the performance shown. Shares are bought and sold at market price not net asset value and are not individually redeemable from the fund. Call 877.774.TRUE for more information. Click here to view or download the factsheet for quarter-end standardized performance.

Index performance does not represent TrueShares fund performance. It is not possible to invest directly in an index. All performance figures assume reinvestment of dividend and capital gains at net asset value; actual returns may differ. Performance 1-year and less are cumulative; performance over 1-year are average annualized total returns. Market price performance is determined using the bid/ask midpoint at 4:00pm Eastern time, when the NAV is typically calculated. NAV price performance is determined using the daily calculated NAV. They do not represent the returns you would receive if you traded shares at other times. Performance figures do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or upon redemption or sale of fund shares.

The ICE BofA 0-3 Year US Treasury Index tracks the performance of US dollar denominated sovereign debt publicly issued by the US government in its domestic market with maturities less than three years.

Distribution Detail

Ex-Date Record Date Payable Date Amount
12/29/2022 12/30/2022 01/03/2023 0.056

Top 10 Holdings

Data as of 01/31/2023
% of Net Assets 4.17%
Name INNOVATIVE INTL ACQUSITIN CORP CLASS A ORD
Ticker IOAC
CUSIP G4809M109
Shares Held 23,000
Market Value 240,810.00
% of Net Assets 4.08%
Name BIOTECH ACQUISITION COMPANY
Ticker BIOT
CUSIP G1125A108
Shares Held 23,000
Market Value 235,290.00
% of Net Assets 4.02%
Name KADEM SUSTAINABLE IMPACT CORP CLASS A COM
Ticker KSI
CUSIP 48284E105
Shares Held 23,000
Market Value 232,070.00
% of Net Assets 4.02%
Name NEWBURY STREET ACQUISITN CORP COM
Ticker NBST
CUSIP 65101L104
Shares Held 23,000
Market Value 231,840.00
% of Net Assets 3.38%
Name Cash & Other
Ticker Cash&Other
CUSIP Cash&Other
Shares Held 194,891
Market Value 194,891.18
% of Net Assets 3.30%
Name NABORS ENERGY TRANSITION CORP CL A COM
Ticker NETC
CUSIP 629567108
Shares Held 18,400
Market Value 190,256.00
% of Net Assets 2.77%
Name SLAM CORP
Ticker SLAMU
CUSIP G8210L113
Shares Held 15,700
Market Value 160,061.50
% of Net Assets 2.69%
Name JAWS MUSTANG ACQUISITION CORP SHS CL A
Ticker JWSM
CUSIP G50737108
Shares Held 15,144
Market Value 155,226.00
% of Net Assets 2.67%
Name LIVE OAK MOBILITY ACQUISI CORP COM CL A
Ticker LOKM
CUSIP 538126103
Shares Held 15,270
Market Value 154,227.00
% of Net Assets 2.66%
Name OCA ACQUISITION CORP
Ticker OCAX
CUSIP 670865104
Shares Held 14,948
Market Value 153,665.44

Top 10 Holdings

Data as of 01/31/2023
% of Net Assets Name Ticker CUSIP Shares Held Market Value
4.17% INNOVATIVE INTL ACQUSITIN CORP CLASS A ORD IOAC G4809M109 23,000 240,810.00
4.08% BIOTECH ACQUISITION COMPANY BIOT G1125A108 23,000 235,290.00
4.02% KADEM SUSTAINABLE IMPACT CORP CLASS A COM KSI 48284E105 23,000 232,070.00
4.02% NEWBURY STREET ACQUISITN CORP COM NBST 65101L104 23,000 231,840.00
3.38% Cash & Other Cash&Other Cash&Other 194,891 194,891.18
3.30% NABORS ENERGY TRANSITION CORP CL A COM NETC 629567108 18,400 190,256.00
2.77% SLAM CORP SLAMU G8210L113 15,700 160,061.50
2.69% JAWS MUSTANG ACQUISITION CORP SHS CL A JWSM G50737108 15,144 155,226.00
2.67% LIVE OAK MOBILITY ACQUISI CORP COM CL A LOKM 538126103 15,270 154,227.00
2.66% OCA ACQUISITION CORP OCAX 670865104 14,948 153,665.44

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